White House hints at wiggle room on income cap

11/13/12 2:34 PM EST

White House press secretary Jay Carney reiterated that the White House would reject any plan that did not let the Bush tax cuts expire on upper-earners — but signaled that the definition of 'upper-earners" was open to negotiation.

Republicans have stood firm on the issue of taxes, saying they were open to raising revenue through eliminating deductions and loopholes but they would not allow tax rates to rise.

Asked if Obama was willing to compromise at all on the issue of raising tax rates on upper earners, Carney said flatly: "No"

"A balanced approach requires substantial revenues," Carney said. "Those revenues need to come from those who can afford it, the wealthiest among us."

The president's plan is to allow the 2001 and 2003 Bush tax cuts lapse on families making over $250,000 or individuals making over $200,000.

But some Democrats like Sen.-elect Tim Kaine (Va.) and Sen. Chuck Schumer (N.Y.) have suggested that those income caps be raised to $500,000 or $1 million. Unlike the GOP deduction and loophole plan, Carney did not reject that approach out of hand.

Obama "is not wedded to every detail of that plan," Carney told reporters Tuesday, when asked about different income caps. "I'm not going to negotiate hypothetical details."

But nevertheless, Carney said that the starting point for any negotiations with congressional leaders was still the plan Obama has put before Congress.

"I think I've given you pretty good parameters on the president's thinking going into the process that he himself said begins with the proposal, the specific proposal that he has before Congress," Carney said.

"He looks forward to the meeting with leaders in Congress. He has some very clear principles and positions that he's taking into that meeting," Carney said. He "believes that compromise is possible here."

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